By Wendy Van Sickle
Columbus, Ohio, Oct. 6 – GS Finance Corp. priced $6.22 million of contingent coupon notes due Feb. 3, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at an annual rate of 4.15% if the index closes at or above its initial level, on each trading day that month.
The initial level is 88% of its closing level on the trade date.
If the index has closed at or above its initial level every day during the life of the notes, the payout at maturity will be par plus the final coupon. If the index has closed below its initial level any day during the life of the notes, but the final level is greater than the initial level, the payout will be par plus the index return. If the final level of the index is less than its initial level, investors will be fully exposed to the loss.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent coupon index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $6,219,000
|
| Maturity: | Feb. 3, 2022
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| Coupon: | 4.15%, payable monthly if index closes at or above initial level on every trading day that month
|
| Price: | Par
|
| Payout at maturity: | If index closes at or above initial level each day during life of notes, par plus final coupon; otherwise, par plus final index return, whether positive or negative
|
| Initial level: | 2,217.0368, 88% of closing level of 2,519.36 on Sept. 29
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 4
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.3%
|
| Cusip: | 40054LT20
|
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